Tasmania, bread basket or basket case?

By Tim Walker

Modern economic theory dictates that Tasmania has to go one of two ways to become more sustainable; become a more market based economy or allow the state to spend our way out of trouble. But are we in trouble? Associate Professor Fred Gale argues that Tasmania is on its way to becoming a sustainable economy through reducing consumption and valuing community activity.

Fred Gale has written an article for the GriffithREVIEW, in conjuction with The Conversation, entitled 'No basket-case: Tasmania on the bumpy road to economic sustainability'.

In it, he argues that, "Even using conventional economic measures, Tasmania remains one of the best places in the world to live".

He cites the stunning natural beauty of Tasmania, safe communities, proximity to family, affordable housing, low traffic density, rich culture, and superb food and wine as contributing to an overall feeling of satisfaction with quality of life that is documented in Tasmania.

"A central problem is that, at its core, modern economics whether neoclassical or Keynesian has little interest in either social capital or the physical processes that underpin the operation of the market."

Listen to Assoc. Prof Gale speaking with Damien Brown about how we can learn to live differently and become a leading force in sustainability and resilience.

"With regard to the latter, as ecological economists have clearly demonstrated, the operation of national and regional economies depends on physical, biological and chemical laws."

Associate Professor Gale spoke with ABC Northern Tasmania Drive presenter Damien Brown, outlining his reasons for believing that talk of 'doom and gloom' in the Tasmanian economy was over emphasised, and that the state could lead the nation, and the world in practicing sustainable economics by valuing our relatively low ecological footprint, and the economically unmeasurable benefits of living on the island.

"An August 2012 EMRS survey of community attitudes reported that almost 90% were satisfied or very satisfied with their own life and personal circumstances."

"Similar high percentages were reported with regard to standard of living and level of personal happiness."

Fred Gale, Associate Professor, School of Government, University of Tasmania, has written the paper 'No basket-case: Tasmania on the bumpy road to economic sustainability' for the Griffth Review focus on Tasmania this month.
(ABC Local)